Drexel Hamilton Starts Chubb Corporation (CB) at Buy

Drexel Hamilton initiates coverage on Chubb Corporation (NYSE: CB) with a Buy. PT $75.00.

Analyst, Gloria L. Vogel, said, "We consider Chubb to represent a “quality” stock within the insurance sector, in that the firm has historically maintained a strong balance sheet, a solid dividend, and good growth dynamics. Its financial strength rating is A++ by A.M. Best, AA by S&P, and Aa2 by Moody’s. At year-end 2011, liquidity was strong at the holding company with $2.2 billion of investments including $1 billion of short-term investments."

"While growth in 2012 will be slow, we expect more normal catastrophe losses, improved pricing, and continued share buybacks to boost 2013 earnings...We estimate EPS of $5.57 for 2012 and $6.57 for 2013."

For an analyst ratings summary and ratings history on Chubb Corporation click here. For more ratings news on Chubb Corporation click here.

Shares of Chubb Corporation closed at $67.68 yesterday.

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